Fünf Konsumunternehmen erhalten neues Kapital; Douyin leugnet, Lieferdienste anzubieten; KKR plant, 85 % der Anteile von Dayao Soda zu erwerben | Überblick über die Risikokapitalbranche
Compiled by | Lan Jie
Busy Money
"Judi Hall" Completes Angel Round Financing in the Tens of Millions
36Kr learned that recently, Guangdong Judi Hall Health Management Co., Ltd. announced the completion of 10 million yuan in angel - round financing. This round of financing will be mainly used to deepen the construction of the Internet hospital platform, expand the supply chain of health products, and promote the large - scale development of "Judi Hall" brand chain stores.
Judi Hall was established in November 2024. It is an enterprise focusing on the supply chain of health foods, mainly engaged in the R & D, management, production, and sales of drugs, health products, and health foods.
The Company behind Chunli NFC Fresh - squeezed Corn Juice Completes Series A Financing
According to IT Juzi, recently, Corn Technology Co., Ltd., which is oriented towards the R & D of functional corn beverages, announced the completion of Series A financing, which will further promote the technological innovation and market expansion of fresh - squeezed corn juice products. As a beverage featuring a health concept, Chunli NFC corn juice highlights the "non - concentrated reconstitution" process, retaining the natural flavor and nutritional components of corn, which meets the current demand trend of consumers for healthy diets.
"Fenglan Coffee" Receives 50 Million Yuan in Financing
Recently, "Fenglan Coffee", a brand under Chengdu Fenglan Times Catering Management Co., Ltd., completed 50 million yuan in Series A financing. The investor of this round of financing was not disclosed. The invested funds will be mainly used in three directions: first, to deepen the supply chain construction and establish closer direct - procurement cooperation with high - quality production areas around the world; second, to accelerate the expansion of stores; third, to invest in product R & D, explore the integration of coffee with diverse flavors, and launch more creative beverages and related products.
Spiritual Realm AI Completes Angel - round Financing of Tens of Millions of Yuan
36Kr learned that Lingjing Wanwei (Hangzhou) Intelligent Technology Co., Ltd., an "AI animation industrialized production platform", announced today the completion of angel - round financing of tens of millions of yuan, invested by Bairui Capital and Lingyi Venture Capital, with Gaohu Capital serving as the exclusive financial advisor. The funds from this round will be used to accelerate the R & D of multi - modal generation architecture and strengthen the technological barriers in the field of AI animation.
ShadowEye Technology, One of the "Four AR Giants", Completes 150 Million Yuan in Series B+ Financing
On July 11, ShadowEye Technology announced the completion of over 150 million yuan in Series B+ financing, jointly invested by Puhua Capital, Liangxi Industrial Development Group, and Shenqi Capital. The funds from this round will be mainly used for the R & D of next - generation products, the construction of AI core capabilities, the in - depth development of the supply chain, and the expansion of offline scenarios.
ShadowEye Technology was established in 2020. Its core business is to develop consumer - grade AR glasses. It is one of the early domestic manufacturers to achieve mass production of "wireless consumer - grade AR glasses". In addition, the company is expected to launch a new strategic smart glasses product in the second half of 2025, continuing the direction of "lightweight + AI integration".
Company Intelligence
The Equity Case of Beverage Brand Dayao Makes New Progress
According to Hongxing Capital Bureau, the case of US private equity firm KKR acquiring 85% of the equity of Dayao Soda has passed the publicity period.
People familiar with the transaction said that the transaction is currently in progress, and the delivery will be carried out in multiple installments, which is expected to start within this year. After the acquisition is completed, the next step for Dayao Soda may include not only national expansion but also internationalization.
Dayao stated that currently, the management team is stable, the company's business is carried out in an orderly manner, and there will be no changes to the national and youth - oriented strategies.
Previously, 36Kr exclusively reported that US private equity firm KKR planned to acquire 85% of the equity of Dayao Soda. The transaction took a year of negotiation. In 2024, Dayao's revenue was about several billion yuan.
By entering the catering market, Dayao has successfully occupied the beverage cabinets in catering stores across the country. The official website shows that Dayao has over a thousand national distributors and millions of retail terminals, covering 31 provinces, autonomous regions, and municipalities directly under the Central Government.
KKR's move to bottom - fish may further boost Dayao's national expansion process.
Douyin Denies Plans to Do Food Delivery
As the food - delivery war intensifies, Douyin has also come into the public eye.
36Kr learned that in response to the news that Douyin will launch a group - buying version of food delivery, Douyin responded that Douyin's lifestyle services focus on in - store business and there is no plan to build its own food - delivery service.
Compared with Meituan and Ele.me, which already have a strong delivery network, Douyin's food - delivery business does not have a scale advantage and its progress has not been smooth.
As early as 2021, when Douyin's local - lifestyle business became an independent first - level department, it conducted an internal test of "Xindong Food Delivery" in July of the same year, but it was suspended and taken offline soon after.
In 2023, the annual GMV target of Douyin's food - delivery business was significantly reduced from 10 billion yuan to 500 million yuan. In 2024, Douyin's food - delivery business was adjusted multiple times, further slowing down its development process.
Since this year, Douyin's food - delivery business has focused more on the "Suixintuan" service, which was upgraded from the original group - buying delivery service in October last year. From the current situation, this service is mainly to meet the group - buying home - delivery needs of relatively mature local - lifestyle merchants.
Looking back at Douyin's experience in food delivery, it has never built its own delivery system but has chosen to cooperate with third - parties, which is in line with ByteDance's consistent "quick - win" approach, but it is difficult to compete head - on with giants like Meituan and Ele.me, which have millions of riders.
ByteDance Denies That Oracle and Others Will Acquire TikTok's US Business
On July 8th Beijing time, there were reports that ByteDance had agreed to sell TikTok's US business to a US consortium led by Oracle, while retaining a minority stake. In response, ByteDance said that the information was false.
Regarding the issue of TikTok's sale, it still needs the approval of the governments of China and the United States. Currently, the final deadline set by the US government is September 17th.
The Trump administration has been promoting the sale of TikTok and has postponed the final deadline for banning TikTok multiple times. Amid the great - power game, the fate of TikTok in the US is uncertain. Before the final result, TikTok may face an indefinite postponement.
According to The Information, people familiar with the matter said that TikTok is developing a new version of the app for US users, with the internal code name "M2" (the current TikTok is called "M"), which will be launched on the US app store on September 5th.
To spread the risks in the US market, TikTok is increasing its efforts to expand other markets, including Latin America and Southeast Asia. At the same time, TikTok is reluctant to let go of the US market, which has the greatest potential.
Xiaohongshu App Launches a New Brand Slogan "Your Lifestyle and Interest Community"
Compared with Xiaohongshu's original slogan "Your Lifestyle Guide", the change this time lies in the aspects of interest and community.
Xiaohongshu's official explanation is that interest is never a "small thing". It can take us across the boundaries of time, region, and language to find resonance and build connections.
For users who are already used to being "emotional judges" and "doing abstract things" on Xiaohongshu, this change is within reason. Xiaohongshu doesn't want to be just a platform that users open when they need travel guides. More and more people are used to sharing their daily lives on the platform.
Letting more users gather on the platform based on their interests may also be an important anchor point for Xiaohongshu to seek further growth.
Future Ideas
Xiaohongshu Officially Announces the Creation of "RED LAND"
Xiaohongshu is increasing its investment in the second - dimension market again.
On July 16th, Xiaohongshu officially announced that it will create the world's first open - world adventure - island event "RED LAND", which will be held on Fuxing Island in Yangpu, Shanghai from August 8th to 10th. This is also Xiaohongshu's first super - large offline IP created for game and second - dimension enthusiasts.
This event includes well - known IPs such as "Honor of Kings", "Peacekeeper Elite", "Egg Party", "NARAKA: BLADEPOINT", "Mythical Beast Inc.", "The King's Avatar", "Shoujo Kageki Revue Starlight", and "One Piece", covering sub - markets such as games and anime, with a strong lineup.
Platform users can exchange for island - entry qualifications by answering questions to accumulate experience points. According to Game Tea House, this event will also conduct investment promotion for traditional retail and FMCG brands.
Xiaohongshu's increased investment in the second - dimension market is not new. This large - scale "comic convention" will undoubtedly further strengthen the platform's second - dimension perception. The content related to the second - dimension and games on Xiaohongshu has shown a rapid development trend. In the past year, the number of notes published in these two categories ranked third and fourth among all categories, with year - on - year growth rates of 175% and 168% respectively.
On the other hand, promoting the further monetization of the circle culture that promotes interest connections is also Xiaohongshu's current commercialization strategy.
Tianlala Collaborates with the Game IP "Slither.io" under Giant Network to Launch the Energetic Fruit and Vegetable Tea Series
The co - branded products are mainly characterized by health and low prices. On the one hand, the "Energetic Fruit and Vegetable Tea Series" uses three ingredients: kale, carrots, and yellow tomatoes, which are all common ingredients in the healthy - beverage market. On the other hand, the price of this series of products is set at 8 yuan per cup, still following the brand's low - price strategy.
Collaborating with game, film, anime, and trendy - toy IPs has become a common marketing strategy in the tea - beverage industry. Fruit and vegetable tea has been a competitive point for major tea - beverage brands since this year. Tianlala's participation is not surprising.
Data - driven Consumption
25 Consumer Goods Companies in the Top 100 Chinese Online Retailers in 2025 Achieve Double - digit Growth
36Kr learned that on July 16th, the China Chain Store & Franchise Association (CCFA) and Deloitte China jointly released the "Top 100 Chinese Online Retailers in 2025" and related sub - rankings. Data shows that the total online sales of the selected companies reached 2.17 trillion yuan, a year - on - year increase of 13.6%. Among them, 60 companies achieved positive growth in online sales, and 40 of them had a year - on - year growth rate of double - digits. By type, 5 e - commerce companies, 10 physical - retail companies, and 25 consumer - goods companies achieved double - digit growth.
Half of the Summer Movie Season Has Passed, and the Total Box Office Reaches 3.5 Billion Yuan
As of July 16th, half of the summer movie season has passed. According to data from the professional version of Dengta, as of 16:55 on July 17th, the total box office (including pre - sales) of the 2025 summer movie season (June - August) exceeded 3.5 billion yuan. Compared with the bustling short - drama and mini - game markets, the film industry as a whole has shown a lukewarm performance.
33 Chinese Game Manufacturers Earned a Total of 1.76 Billion US Dollars in June
36Kr learned that according to the Sensor Tower store intelligence platform, in June 2025, a total of 33 Chinese manufacturers were short - listed in the TOP 100 global mobile - game publishers in terms of revenue, earning a total of 1.76 billion US dollars, accounting for 33% of the revenue of the global TOP 100 mobile - game publishers in the same period. Among them, XD Inc.'s revenue in June increased by 10%, and it continued to rank second among Chinese mobile - game publishers in the global revenue list, surpassing NetEase and miHoYo.
The Food - Delivery War Drives up the Sales of Catering Brands and Instant - Retail Brands
Recently, driven by the large - scale consumer scenario, a total of 4,124 catering brands on the Taobao platform have seen their business break historical peaks, and the order volume of 2,318 non - catering sub - categories has doubled. The overall non - catering orders have increased by 143% compared with the initial stage of launch. This growth was driven by Taobao Flash's 50 - billion - yuan subsidy program.